Why Credit Rebuilding Is Different for Homeowners As a homeowner, you already have secured debt (your mortgage) and often have available equity. That opens strategies renters can’t access, like consolidating high-interest cards into a lower-rate mortgage refinance, HELOC, or second
Wage garnishment in Canada happens when creditors or the Canada Revenue Agency (CRA) legally deduct money from your pay cheque to recover unpaid debts. For homeowners, this can make keeping up with mortgage payments harder and create serious financial strain.
A Helpful Guide on Steps to Take the Moment You Receive a Foreclosure Notice in Ontario First, Understand What You Received (In 20 Minutes or Less) In Ontario, most lenders use Power of Sale rather than full foreclosure. Your envelope
What Is a Reverse Mortgage in Ontario? A reverse mortgage is a loan secured against your home that allows Ontario homeowners aged 55 or older to convert a portion of their home equity into cash, with no required monthly mortgage
7 Ways Debt Could Impact Your Mortgage Renewal (and How to Fix It) Debt doesn’t have to derail your plans—but does having debt affect your mortgage renewal in Canada? The short answer is yes. From credit-card balances to car loans,
Vendor Take-Back Mortgages Ontario: 2025 Guide A Vendor Take-Back (VTB) mortgage is when the seller acts as the lender for part of the purchase price. In Ontario’s tight, rate-sensitive market, VTBs can bridge appraisal gaps, help buyers qualify, and help
If you’re falling behind on property taxes, you’re not alone, and it’s critical to act early. This guide walks you through what delinquent property taxes mean in 2025, the risk path (tax liens, tax sales, potential loss of property), and
5 Powerful Reasons Home Equity Builds Wealth in Ontario Discover 5 powerful reasons why your home equity is your greatest financial asset in Ontario. Learn how to build wealth, refinance, and secure your future. Introduction: Unlocking the Hidden Value in
Top 15 Financial Tools to Help Rebuild Your Credit as a Homeowner in Canada Learn how Canadian homeowners can rebuild credit using proven financial tools like secured credit cards, credit-builder loans, budgeting apps, and equity strategies. Owning a home in
For many Canadians struggling with debt, one of the biggest fears is losing their home if they claim bankruptcy. The good news? Claiming bankruptcy doesn’t automatically mean you’ll lose your home. Whether you keep your property depends on factors like
In Ontario, lenders rarely use true foreclosure. The standard route is power of sale, a faster process that lets the lender sell the property to recover the debt. A simple way to picture the journey: Default happens (missed payments, unpaid
1) What is a Reverse Mortgage in Canada? A reverse mortgage is a loan secured against your primary residence that allows homeowners aged 55+ to access a portion of their home equity as tax-free funds. Unlike a traditional mortgage, you